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captioning sponsored by macneil/lehrer productions >> brown: president obama was back at the white house today and congress returns to washington early next week. top on the agenda for both: a looming fiscal crisis. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we assess the task ahead in negotiations to avoid an economic hit from automatic spending cuts and tax increases. >> brown: then, we examine what's next for the republican party, after a second straight presidential campaign rebuke from a changing american electorate. >> woodruff: the associated press still hasn't called a winner in florida. why not? and why were the lines so long at some polling places across the country? ray suarez gets some answers. >> brown: john merrow tells the story of pediatricians with a new prescription: books to build better brains. >> there's solid research that shows that just that intervention of handing a family a book, giving them a couple of age-appropriate pieces of advice about how to read with their kid
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and just encouraging reading, they-- those kids will do better in school. >> woodruff: and from politics here to the power shift in china. margaret warner looks at the communist party congress charged with unveiling that country's new leadership. >> brown: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪
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moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: with the election over, there's new talk in washington about finally coming to grips with taxes, spending
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and the deficit. the mammoth problem has been hanging over congress and president for many months, and now, time is running out. in just five days, lawmakers troop back to the capitol for a final, lame-duck session. and they are under mounting pressure to avoid going off the much-talked-about fiscal cliff. come january 1, the bush-era tax cuts will expire as will a 2% payroll tax cut that was passed in december of 2010. at the same time, large automatic spending cuts would begin to bite-- 10% less for defense in 2013 and an 8% cut in domestic programs. the result-- according to federal reserve chairman ben bernanke-- could be disastrous. he said this in july, citing the congressional budget office. >> the c.b.o. has estimated that if the full range of tax increases and spending cuts were allowed to take effect, a scenario widely referred to as
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the fiscal cliff-- a shallow recession would occur early next year and about one and a quarter million fewer jobs would be created in 2013. today, in a new estimate, c.b.o. said that extending all tax breaks, other than the payroll tax cut, would boost growth by nearly 1.5% next year. and it said raising taxes just for individuals earning more than $200,000 a year would not significantly hurt growth. a deal on taxes and spending and deficits eluded the so-called congressional super-committee a year ago, but now... outside groups are pressing for a deal, as in this ad being run by fix the debt-- an organization founded by former republican senator alan simpson and former clinton chief of staff erskine bowles. >> we should be figuring this out! >> woodruff: still, finding
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compromise will be tough. senior obama campaign aide david axelrod argued today that the president now has new public support for raising taxes on better-off americans. >> the president did campaign all over this country. he talked about it in debates, he talked about it in speeches on the need for balanced deficit reduction that included some new revenues. and he was re-elected by in a significant way. so i think that, hopefully, >> woodruff: house speaker john boehner said yesterday that republicans are willing to consider raising
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>> this is "bbc world news." funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu, newman's own foundation, and union bank. >> at union bank, our relationship managers use their expertise in global finance to guide you through the business strategies and opportunities of international commerce. offering specialized solutions in capital to help you meet your growth objectives. we offered tailored solutions for small businesses and big corporations. what can we do fou

tv
PBS News Hour
PBS November 8, 2012 3:00pm-4:00pm PST

News/Business. Gwen Ifill, Judy Woodruff, Jeffrey Brown. (2012) New. (CC) (Stereo)

TOPIC FREQUENCY Washington 2, Newman 1, Ben Bernanke 1, John Boehner 1, Alfred P. Sloan 1, Alan Simpson 1, Jeffrey Brown 1, Margaret Warner 1, Macneil Lehrer 1, John Merrow 1, Ray Suarez 1, Brown 1, Erskine Bowles 1, David Axelrod 1, Vermont 1, Honolulu 1, Union Bank 1, Stowe 1, New York 1, Florida 1
Network PBS
Duration 01:00:00
Scanned in San Francisco, CA, USA
Source Comcast Cable
Tuner Channel 74 (525 MHz)
Video Codec mpeg2video
Audio Cocec ac3
Pixel width 1920
Pixel height 1080
Sponsor Internet Archive
Audio/Visual sound, color


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